Legal Experts Highlight Loopholes in Cryptocurrency Payment Bans

According to PANews, despite countries like Indonesia, Russia, and Turkey prohibiting the use of cryptocurrencies for domestic payments, legal experts have noted that these nations do not explicitly ban their residents from using cryptocurrencies for transactions abroad. For instance, the Georgian travel company Tripzy has recently started accepting Tether (USDT) payments, offering more payment flexibility to tourists from these restricted countries. Experts suggest that while such cross-border payments do not violate domestic laws, they may attract the attention of global regulatory bodies like the Financial Action Task Force (FATF), especially amid rising concerns about stablecoins being used in illegal transactions. source: https://www.binance.com/en/square/post/26185532292721?utm_source=BinanceNewsRSS